Swedish automaker Volvo proudly disclosed that its global electric truck sales had reached over 4,300 units in about 38 countries as the US and Europe started adopting the technology.
For context, market sales of heavy 16-ton e-trucks in Europe increased by 200% to 1,041 units in 2022. The largest market share belongs to Volvo Trucks.
How is Volvo taking the lead?
Volvo Trucks leads the European heavy e-truck market with approximately 32% share in 2022.
In North America, the company contributed almost 50% of the overall heavy e-truck registrations last year.
With this strong performance, Volvo aims to protect its leading position in the two major markets mentioned above and in other global markets. Per Volvo Trucks President’s statement, the company targets e-trucks to account for 50% of its all-new truck sales worldwide by 2030.
“We are determined to lead the electric truck transformation, and our market leading position in 2022, not only in Europe, but also in North America and other markets, is proof that we are doing just that. Although, the market for electric trucks is still small, but the trend is clear: many of our customers are now starting their own shift to electric.
We intend to be the catalyst for this transition and aim for 50% of our global sales of new trucks to be electric in 2030.”
Roger Alm, Volvo Trucks President
In retrospect, Volvo Trucks only entered all-electric truck production in 2019. Now, the company has deployed over 4,300 units across 38 countries globally.
The press release noted that the company currently holds the most extensive product portfolio in the relatively small market, with its six e-trucks in series production. In early December 2022, Volvo Trucks launched new e-trucks models as part of its expansion efforts, including the FM, FMX, and FH.
“We now have a product portfolio that can cover most types of transportation for all kinds of customers. Looking at the goods flow patterns, it’s possible to electrify nearly half of all transports with our line-up of electric trucks. We see it as our mission to support our customers in making that happen.”
Roger Alm, Volvo Trucks President
All that said, Volvo is indeed leading the charge in the electric truck industry. It would be exciting to see how the company would fare this year, considering the upcoming rivals, including Tesla‘s Cybertruck and Semi.
